India extends free import of yellow peas till October 2024

India extends free import of yellow peas till October 2024

New Delhi: India has extended the free import of yellow peas by four more months until October 2024, the Directorate General of Foreign Trade (DGFT) said in a notification adding that the import is permitted without the Minimum Import Price (MIP) and port restriction conditions. In December last year, the government allowed duty-free imports of … Read more

Government prohibits import of cigarette lighters under Rs 20

Government prohibits import of cigarette lighters under Rs 20

The government on Thursday prohibited imports of cigarette lighters if the price per unit is less than Rs 20, with a view to discourage inbound shipments of the product. “The import policy of cigarette lighters…is revised from ‘free’ to ‘prohibited’. However, import shall be free if CIF value is Rs 20 or above per lighter,” … Read more

Government details procedure for watermelon seeds imports

Government details procedure for watermelon seeds imports

The Directorate General of Foreign Trade (DGFT) on Thursday said that the imports of watermelon seeds up to October 31 this year would not exceed 35,000 metric tonnes and will be allowed on an actual user basis only. The DGFT laid out a procedure for imports up to October 31, 2023 and has invited fresh … Read more

Government to identify 100 districts to develop as export hubs: DGFT

Government to identify 100 districts to develop as export hubs: DGFT

The government will identify close to 100 districts across the country to turn them into export hubs by adopting a “bottom-up approach”, Director General of Foreign Trade (DGFT) Santosh Kumar Sarangi said on Friday. “Our idea is to involve more youngsters at the district level (like collectors) so that they see the initiative to boost … Read more

Govt eases norms for certain sectors under Export Promotion Capital Goods scheme

Govt eases norms for certain sectors under Export Promotion Capital Goods scheme

In a relief to exporters from hotel, healthcare, and educational sectors, the government on Friday announced a one-time relaxation for them with respect to maintaining the average export obligation under the Export Promotion Capital Goods (EPCG) scheme. Under the scheme, imports of capital goods are allowed duty free, subject to an export obligation. The latest … Read more

India restricts imports of waste, scrap with precious metals

India restricts imports of waste, scrap with precious metals

The government has restricted the imports of certain waste and scrap of precious metal or of metal clad with precious metal. Their imports were free earlier. The Directorate General of Foreign Trade amended the import policy for ash containing precious metal or precious metal compounds including gold, platinum and silver to “restricted” from “free” which … Read more

India aiming at $500 billion exports for FY23: DGFT official

India aiming at 0 billion exports for FY23: DGFT official

India has set up a target of USD 500 billion exports for the 2022-23 fiscal, a top government official said on Friday, contending that the COVID-19 pandemic has taught the country to “reimagine” world trade. In December 2021, exports stood at USD 37.8 billion, the highest-ever for any month, Additional DGFT Amiya Chandra said during … Read more

Govt allows certain gold imports through India International Bullion Exchange IFSC

Govt allows certain gold imports through India International Bullion Exchange IFSC

The government on Wednesday permitted qualified jewellers to import certain kinds of gold including certain unwrought forms through India International Bullion Exchange IFSC Ltd. The changes were notified by the Directorate General of Foreign Trade (DGFT) in its amendment in the gold import policy. “In addition to nominated agencies notified by RBI (in case of … Read more

Government restricts Agar oil, Agarwood chips exports

Government restricts Agar oil, Agarwood chips exports

The government on Monday restricted the export of Agar oil and Agarwood chips and powder. Their exports were free earlier. The Directorate General of Foreign Trade notified an annual export quota of 25,000 kg for Agarwood chips and powder, and 1,500 kg for Agar oil. The DGFT said that applications for an export license obtained … Read more

Govt caps entitlement under service export scheme during FY20 at Rs 5 crore

Govt caps entitlement under service export scheme during FY20 at Rs 5 crore

The government on Thursday imposed a limit on the total entitlement under the Services Export from India Scheme (SEIS) for shipments made during 2019-20, at Rs 5 crore per exporter. Under the scheme, depending on the nature of services, the government gives duty credit scrips or a reward at 3-5% of net foreign exchange earned … Read more